NewsBriefs - UK top financial regulator warns against unauthorized Solana-based memecoin launchpad Pump.fun

Dec 6, 4:38 PM The Block

UK top financial regulator warns against unauthorized Solana-based memecoin launchpad Pump.fun

The UK Financial Conduct Authority (FCA) has issued a warning about Solana-based memecoin launchpad Pump.fun, stating that it is not authorized to operate in the UK and may be targeting local consumers. The FCA advised the public to avoid dealing with Pump.fun, highlighting potential risks and scams. This situation could affect UK customers as they may lack certain financial protections and might not recover funds if issues occur.

Latest

• Apr 18, 2:57 AM Bitcoin Talk

  eXch to shut down operations after Bybit hack, commits 50 BTC to privacy development

  eXch has announced it will cease operations amid pressures from a transatlantic operation aiming to shut down the project on accusations of enabling illicit activities. Despite demonstrating effective privacy features and rejecting labels as a 'mixer,' the platform faced external misunderstanding and misinterpretation of its goals. As part of its closure, eXch is donating 50 BTC to support open-source projects that enhance crypto privacy solutions, including Bitcoin, Thorchain, and Ethereum privacy-preserving tools. The decision follows challenges from state intelligence and regulatory bodies misjudging the platform's intentions.

  Expand Hide

  

• Apr 18, 1:28 AM CoinDesk

  Crypto project founder gambles with investor bags, gets rekt and faces arrest

  Richard Kim, ex-executive of Galaxy, Goldman Sachs, and JPMorgan, was arrested on securities and wire fraud charges for misappropriating nearly all of the $7 million raised from investors in his crypto casino venture, Zero Edge. The FBI revealed that Kim had induced investments under false pretenses and gambled away significant sums through high-risk crypto trades. Following significant losses and a failed attempt to manage his debts through further trading and fund-raising, Kim has admitted to the missteps and surrendered himself to the US Securities and Exchange Commission.

  Expand Hide

  

• Apr 17, 5:55 PM The Block

  Coinbase boosts Solana support to improve transaction speeds and reliability

  Coinbase has significantly enhanced its support capabilities for the Solana ecosystem addressing user concerns and improving transaction processing speeds and reliability. The infrastructure updates include five times faster block processing throughput, four-fold improvements in RPC, augmented failover mechanisms for better system resilience, and operational optimizations. This move follows previously reported transaction delays in the Solana network and aims to cater to increasing transaction volumes as Solana grows.

  Expand Hide

  

• Apr 17, 4:02 PM The Block

  DOJ memo indicates policy shift, potentially easing crypto firm prosecutions

  A recent US Justice Department memo suggests a shift in policy regarding crypto enforcement, indicating a more lenient approach under the Trump administration compared to the Biden administration. The memo, authored by Deputy Attorney General Todd Blanche, clarifies that the DOJ aims to focus on crimes causing direct harm, such as investor fraud and terrorism linked to crypto, rather than overall regulatory actions against crypto firms. This adjustment leads to the dissolution of the Department's National Cryptocurrency Enforcement Team, established in 2022, and a broader implication for ongoing and future crypto cases.

  Expand Hide

  

• Apr 17, 2:58 PM Circle

  Circle introduces Refund Protocol for decentralized dispute resolution in USDC transactions

  Circle has launched Refund Protocol, a new smart contract designed to enable non-custodial escrow and onchain dispute resolution for stablecoin payments, particularly focusing on ERC-20 tokens like USDC. This protocol offers mediated resolutions, lockups, and non-custodial refunds, enhancing the safety and flexibility of stablecoin transactions by minimizing dependency on centralized third parties. Aimed at developers, Refund Protocol supports features like arbiter-mediated refunds, lockup periods, and early withdrawals based on offchain agreements, facilitating clearer, more dependable commerce on the blockchain.

  Expand Hide

  

• Apr 17, 10:02 AM Bitcoin Sistemi

  Binance provides crypto advisory services to governments despite past legal issues

  Following a guilty plea for money laundering and sanctions violations in the US, Binance is now advising multiple governments on crypto regulation and developing national digital asset strategies. CEO Richard Teng highlighted Binance's consultancy role, influenced by a more proactive US approach to crypto under President Donald Trump. Despite Binance's legal troubles, which included a large fine and compliance monitoring, Teng noted an organizational shift towards enhanced regulatory compliance, with 25% of its workforce dedicated to these efforts. Countries like Pakistan and Kyrgyzstan are engaging with Binance's services, demonstrating continued trust in their expertise.

  Expand Hide

  

• Apr 17, 9:39 AM Cointelegraph

  CoinGecko report highlights dominance of AI tokens and meme coins in Q1 2025

  In the first quarter of 2025, artificial intelligence tokens and meme coins dominated the crypto market, capturing 62.8% of investor interest according to CoinGecko. AI tokens accounted for 35.7% while meme coins, boosted by events such as the launch of Trump-associated tokens on the Solana network, held 27.1%. The quarter also witnessed concerns about meme coins drawing capital away from utility tokens like Solana, which saw a significant price drop.

  Expand Hide

  

• Apr 17, 6:34 AM Reuters

  Bhutan leverages green crypto for economic growth and job creation

  Bhutan is utilizing green cryptocurrencies, mined using hydropower, to augment its economy and mitigate brain drain. The nation, which harnesses hydropower for energy demands, has profited from cryptocurrency investments since 2019, funding government salaries and incorporating blockchain and AI training to propel job creation. The sovereign wealth fund Druk Holding and Investments manages these initiatives, aiming to expand Bhutan's hydropower capacity to support the growing digital currency sector.

  Expand Hide

  

• Apr 16, 4:33 PM Purpose Investments

  Purpose Investments launches world's first spot Solana ETF with native staking

  Purpose Investments has launched the Purpose Solana ETF, the first ETF to offer direct physical exposure to Solana tokens coupled with native staking yield powered by in-house infrastructure. Trading on the TSX, this ETF enables regulated access to Solana's blockchain, emphasizing security, high staking rewards, and operational efficiency without needing complex wallet setups. This expansion underlines Purpose's role as a leader in digital asset ETF innovation and its broad suite of crypto investment options.

  Expand Hide

  

• Apr 16, 4:20 PM Business Wire

  CI Global Asset Management, Galaxy Asset Management launch Solana ETF with 0% management fee

  CI Global Asset Management, in collaboration with Galaxy Asset Management, has launched the CI Galaxy Solana ETF, which is now trading on the Toronto Stock Exchange under the tickers SOLX.B and SOLX.U. The ETF offers direct investment in Solana tokens and will waive its management fee of 0.35% until July 16, 2025. Managed by CI Global Asset Management and sub-advised by Galaxy, the ETF aims to provide investors easy access to the Solana blockchain, one of the fastest-developing ecosystems in digital assets. The ETF also engages in Solana token staking for additional rewards.

  Expand Hide

  

• Apr 16, 4:10 PM The Block

  Raydium rolls out LaunchLab boosting RAY 8%

  Raydium, the leading decentralized exchange on Solana, has introduced LaunchLab, a new tool for token launches aimed at competing with Pump.fun. LaunchLab seamlessly integrates with Raydium's liquidity pools and offers third-party platforms the capability to set transaction fees. This development underscores the intensified competition between Raydium and Pump.fun, highlighted by recent shifts such as Pump.fun launching its own DEX, PumpSwap. The announcement of LaunchLab boosted Raydium's token (RAY) price by approximately 8%.

  Expand Hide

  

• Apr 16, 12:45 PM DWF Labs

  DWF Labs invests $25M in Trump-backed World Liberty Financial, announces US expansion

  DWF Labs, a crypto market maker and Web3 investment firm, announced an investment of $25 million in World Liberty Financial governance tokens and the opening of a new office in New York City as part of its US expansion strategy. This move aims to strengthen partnerships, hire local talent, enhance regulatory engagement, and support digital asset initiatives like the USD1 stablecoin within the growing DeFi market.

  Expand Hide

  

• Apr 16, 12:38 PM The Block

  Coinbase Institutional signals potential onset of crypto winter amid market downturn

  Coinbase Institutional, in a recent report, highlighted multiple indicators suggesting that the crypto market may be entering a 'crypto winter.' Key data points include a significant drop in total crypto market cap, less than bitcoin, and reduced venture capital funding in Q1, which have combined with broader economic uncertainties from ongoing tariff policies and fiscal tightening to dampen investment activities. The figure emphasized that both bitcoin and the broader COIN50 index have fallen below their 200-day moving averages, traditionally a bear market indicator, confirming broader negative trends in the market.

  Expand Hide

  

• Apr 16, 3:57 AM Metaplanet

  Metaplanet issues $10 million in zero-interest bonds to fund Bitcoin purchases

  Metaplanet has issued 11th series of ordinary bonds totaling $10 million to EVO FUND, carrying no interest. The funds from this issuance will be used to purchase Bitcoin, building on earlier plans detailed in January 2025. The redemption of these bonds, scheduled for October 14, 2025, will be financed through the proceeds from the 14th to 17th Series of Stock Acquisition Rights.

  Expand Hide

  

• Apr 16, 3:14 AM The Block

  Semler Scientific plans $500 million securities offering to boost bitcoin portfolio

  Semler Scientific has filed with the US Securities and Exchange Commission to offer $500 million in securities to potentially expand its bitcoin holdings and cover general corporate expenses. The company, which embarked on a bitcoin investment strategy in May 2024, aims to use the funds from the various securities sales, including debt securities, common stocks, and warrants, primarily for acquiring more bitcoin, alongside other corporate needs. As of now, Semler holds 3,192 BTC with an unrealized loss of approximately $14 million.

  Expand Hide